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AT&T late today (July 12) agreed to buy Leap Wireless for $1.2 billion, or $15 a share. In after-hours trading, Leap's stock leapt to $16.73, well above that offer, and well over double the $5.82 closing in regular hours trading. The gambling seems to have cooled off a bit, but the stock has still soared on the takeover news. There has been speculation for some time that Leap would be taken over.

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Comments

Burwell July 13, 2013 @ 10:26 p.m.

This is a tremendous achievement. Leap was selling for $49 a share in 2008. There's nothing like unlocking shareholder value by selling off the company.

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Don Bauder July 14, 2013 @ 11 a.m.

Burwell: Recall, too, that Leap went into bankruptcy in 2003. Best, Don Bauder

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